Join the crypto clique Cryptocurrencies allow you to pay for everything in the metaverse — to earn , trade , sell , and be rewarded . You can also trade NFTs , which authenticate virtual goods with cryptocurrencies as well . Data on the blockchain is at the heart of both . |
NFTs boost value These are the foundation for value creation . Nonfungible tokens ( NFTs ) are unique digital assets verified on a blockchain . NFTs allow items to have value in the metaverse , and are currently used for artwork , music , and virtual clothes . |
Virtual real estate Retailers buy prime digital plots in the metaverse . The “ land ” will be used to develop metaverse commerce projects or fully immersive digital shopping centers . Republic Realm , a metaverse real estate firm , recently paid Sandbox $ 4.3 million for a plot of virtual land , the largest public virtual realestate deal ever . |
Decentralized commerce So-called d-commerce allows metaverse transactions to happen peer-to-peer , just like in the real world , without relying on a centralized intermediary . It will allow communities to evolve new experiences and popups , while people will be able to create new value , enabled by smart contracts . |
Gaming Gaming is now a major sales platform for retailers where real-world and digital goods are bought , gifted , and exchanged . In 2020 , around $ 54 billion was spent on virtual goods , skins , and lives . |